PNC Financial Services Group Inc. Acquires 1,332 Shares of Casey's General Stores, Inc. (NASDAQ:CASY)

PNC Financial Services Group Inc. lifted its position in shares of Casey's General Stores, Inc. (NASDAQ:CASY - Free Report) by 9.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,725 shares of the company's stock after acquiring an additional 1,332 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Casey's General Stores were worth $5,532,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Casey's General Stores by 1.4% in the 1st quarter. Janus Henderson Group PLC now owns 768,060 shares of the company's stock worth $244,592,000 after purchasing an additional 10,841 shares during the period. Dimensional Fund Advisors LP boosted its stake in Casey's General Stores by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 468,650 shares of the company's stock worth $178,822,000 after purchasing an additional 14,750 shares during the period. Envestnet Asset Management Inc. boosted its stake in Casey's General Stores by 20.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 458,044 shares of the company's stock worth $174,771,000 after purchasing an additional 77,515 shares during the period. International Assets Investment Management LLC bought a new position in Casey's General Stores in the 3rd quarter worth about $959,880,000. Finally, Thrivent Financial for Lutherans boosted its stake in Casey's General Stores by 15.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 251,736 shares of the company's stock worth $94,581,000 after purchasing an additional 33,376 shares during the period. Institutional investors own 85.63% of the company's stock.

Wall Street Analyst Weigh In

CASY has been the subject of several analyst reports. Gordon Haskett initiated coverage on Casey's General Stores in a research note on Monday, November 4th. They issued a "hold" rating and a $400.00 target price for the company. Melius Research started coverage on Casey's General Stores in a research report on Monday, September 23rd. They set a "buy" rating and a $435.00 price target for the company. Royal Bank of Canada lifted their price target on Casey's General Stores from $393.00 to $403.00 and gave the company a "sector perform" rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. downgraded Casey's General Stores from a "neutral" rating to an "underweight" rating and lifted their price target for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Finally, Benchmark reiterated a "buy" rating and set a $410.00 price target on shares of Casey's General Stores in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $408.25.

Insiders Place Their Bets

In other Casey's General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey's General Stores stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total value of $1,140,720.00. Following the transaction, the insider now directly owns 9,044 shares of the company's stock, valued at $3,438,890.56. The trade was a 24.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos purchased 267 shares of the firm's stock in a transaction on Wednesday, September 18th. The stock was bought at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now directly owns 2,594 shares in the company, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.56% of the company's stock.

Casey's General Stores Price Performance

Shares of NASDAQ CASY traded up $11.48 during trading hours on Friday, reaching $427.88. 274,816 shares of the stock traded hands, compared to its average volume of 207,155. The company has a market capitalization of $15.88 billion, a P/E ratio of 31.14 and a beta of 0.79. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Casey's General Stores, Inc. has a 52-week low of $266.56 and a 52-week high of $428.61. The company's 50-day simple moving average is $390.34 and its two-hundred day simple moving average is $372.81.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, topping analysts' consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.15 billion. Casey's General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business's quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.52 EPS. Equities research analysts forecast that Casey's General Stores, Inc. will post 14.24 EPS for the current year.

Casey's General Stores Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 1st were paid a $0.50 dividend. The ex-dividend date was Friday, November 1st. This represents a $2.00 dividend on an annualized basis and a yield of 0.47%. Casey's General Stores's dividend payout ratio (DPR) is currently 14.56%.

Casey's General Stores Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.